FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Double Bottom pattern has been formed on AUDJPY M5; the upper boundary is 111.08; the lower boundary is 110.87. The width of the pattern is 22 points. In case of a break of the upper boundary 111.08, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The technical pattern called Head and Shoulders has appeared on the chart of AUDJPY M30. There are weighty reasons to suggest that the price will surpass the Neckline 110.91/110.93 after the right shoulder has been formed. So, the trend is set to change with the price heading for 110.63.

The Double Top pattern has been formed on AUDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 111.16 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on AUDJPY M15. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 111.42 is broken. The further movements will rely on the width of the current pattern 51 points.

The Double Bottom pattern has been formed on AUDJPY M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 111.02 is broken. The further movements will rely on the width of the current pattern 8 points.